Article 489
- Description
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Hybrid instruments with a call and incentive to redeem
- Main content
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2. The instruments shall qualify as Additional Tier 1 instruments provided that the following conditions are met:
(a) the institution was able to exercise a call with an incentive to redeem only prior to 1 January 2013;
(b) the institution did not exercise the call;
(c) the conditions laid down in Article 52 are met from 1 January 2013.
(a) the institution was able to exercise a call with an incentive to redeem only on or after 1 January 2013;
(b) the institution did not exercise the call on the date of the effective maturity of the instruments;
(c) the conditions laid down in Article 52 are met from the date of the effective maturity of the instruments.
4. The instruments shall not qualify as Additional Tier 1 instruments, and shall not be subject to Article 484(4), from 1 January 2014 where the following conditions are met:
(a) the institution was able to exercise a call with an incentive to redeem between 31 December 2011 and 1 January 2013;
(b) the institution did not exercise the call on the date of the effective maturity of the instruments;
(c) the conditions laid down in Article 52 are not met from the date of the effective maturity of the instruments.
(a) the institution was able to exercise a call with an incentive to redeem on or after 1 January 2013;
(b) the institution did not exercise the call on the date of the effective maturity of the instruments;
(c) the conditions laid down in Article 52 are not met from the date of the effective maturity of the instruments.